Club Med operator Fosun Tourism rises on solid earnings forecast

Fosun Tourism

22/07/2024 06:42

** Shares of Club Med operator Fosun Tourism Group  1992.HK 
rise 3.7% to HK$3.92, on track for the biggest one-day pct gain
since July 4
    ** The resort operation arm of Fosun International  0656.HK 
expects its first half net profit to rise by no less than 10%
YoY and business volume from tourism operation to increase by no
less than 8% YoY, thanks to worldwide easing of travel
restrictions 
    ** Co says continued recovery of operations of Club Med,
Atlantis Sanya, Vacation Asset Management Center and Foryou
Club, among others, also aided the growth
    ** Fosun International climbs 1.5% 
    ** Hang Seng Commerce & Industry Index  .HSNC  rises 1.1%,
while Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  both add 0.7%
    ** Stock of Fosun Tourism down 34.7% YTD  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))